Get ready for altcoin season! Here comes the money!

The altcoin market has been trending down over the past two weeks, but a key indicator shows the recent decline could signal a “relative momentum bottom” and if history repeats itself, a “coordinated takeoff” could soon follow, according to cryptocurrency analysts.

Historically, this has marked a market bottom followed by a sustained rise in altcoins. "Altcoins may still fluctuate around these levels for a while before we see a concerted takeoff, and many have already begun to build good fundamentals. 

Year-to-date, the number of DAUs across all blockchains has grown by 97%. This shows that "growth momentum continues unabated." He said that more users means more user fees, which means "higher asset prices."

"I think some altcoins are ready for round two," Moustache, a well-known cryptocurrency analyst, said in a July 15 article, adding that the launch of the much-anticipated spot Ethereum ETF may provide the needed staying power.

This means that altcoins are still underperforming Bitcoin

According to data from Blockchain Center, only 37% of the top 50 altcoins have outperformed BTC in the past three months. While this is a positive sign, it is still not enough to declare the arrival of altcoin season. To declare the arrival of altcoin season, this percentage must exceed 75%.

This means that although signs of altcoin season are beginning to converge, it may be too early to make a judgment now.

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